Marital discord ... well almost

Forum|Forum|4 years ago
March 3, 2022
1 reply
15 views

I have used TT for more than 15 years and always use the Interview process.

I entered our stock info summary data from our brokerage statements.

On the brokerage statement there is boilerplate language saying that Form 8949 must be submitted.

My wife sees no Form 8949 and insists that I have bungled the data entry. My view is that the TT Interview process prepares the equivalent information and during the electronic transmittal the IRS receives it.

An explanation of why we do or do not see Form 8949 would be helpful.

JulieS

Level 15

In most cases, if you have stock sales reported on Form 1099-B, you will get a Form 8949.

However if all your sales are classified as Category A or D, and none has any adjustments, such as Wash sales), the amount might only appear on Schedule D.

If you don't have a Schedule D either and there are 1099-B transactions, there is something missing from your tax return.

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Bain999Author

Level 2

I possibly did not understand what happens...

The Interview process does a good job -- enter summary data for each brokerage based on the 1099 B documents they supplied. Apparently I do not have to actually fill out an 8949 because TT creates one from the interview. Is that true?

Next issue is that brokerage 1 has a 8949 generated by TT but brokerage 2 does not have an 8949 generated. How do I get the 8949 for brokerage 2 generated??

ThomasM125

Level 15

TurboTax does generate the 8949 form from the entry of your form 1099-B. However, there would only be one form 8949 on your tax return which summarizes all of your investment sales. So, maybe everything is on your form 8949 and you just didn't realize it.

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